Fortescue (OTCMKTS:FSUGY) Shares Gap Up – Time to Buy?

Fortescue Ltd. Sponsored ADR (OTCMKTS:FSUGY)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $28.84, but opened at $30.80. Fortescue shares last traded at $30.5950, with a volume of 2,239 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group reissued an “underperform” rating on shares of Fortescue in a research report on Monday, February 16th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Fortescue has a consensus rating of “Hold”.

Fortescue Trading Up 0.4%

The business has a 50-day moving average price of $29.88 and a 200-day moving average price of $27.60. The company has a current ratio of 2.43, a quick ratio of 1.84 and a debt-to-equity ratio of 0.26.

About Fortescue

Fortescue (OTCMKTS:FSUGY) is the U.S. over?the?counter ticker for Fortescue Metals Group, an Australian company principally engaged in the exploration, mining, processing and sale of iron ore. Since its founding in 2003, the company has developed large?scale open?pit operations in the Pilbara region of Western Australia and built integrated infrastructure — including rail and port facilities — to move bulk shipments of iron ore to international steelmakers.

Fortescue’s core products are iron ore lump and fines, which it markets to customers around the world, with strong trade links to Asian steel producers.